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VOYAGE ESTIMATES                                 XOJ

From these figures it will be seen that the cost of
transportation of 8,900 tons of cargo will be £19,090,
approximately £2 as. nd per ton. If the charter-party is
fixed at the rate of 6os. per ton then the profit will be £7,610.

Allowances must also be made where under particular
charter-party terms additional commissions are allowable,
and consideration must also be given to individual
ports—as to whether loading is fast or slow, any extra
time or expenses incurred, also the charges for steve-
doring and port charges which again vary in every
locality, and whether and to what extent dispatch or
demurrage is payable.

It must be remembered that the above estimate is merely
by way of illustration and cannot be taken as actual current

Another point which must be considered is the fact that
if a vessel is able to carry out her voyage by alternative
routes then estimates of such alternatives must be made.
For example, a vessel from South Wales to Australian ports
would have the option of proceeding via Cape Town, or via
Suez, in which case the consideration of extra distance via
Cape Town (a matter of about 1,200 miles) would be
neutralized by the expenses saved in avoiding the tolls of the
Suez Canal.

The possibility of dividing the trip into stages for the
purpose of obtaining bunkers is another consideration. If,
for example, a vessel is able to call at two intermediate
ports for bunker purposes on route then the space or weight
allowed for bunkers would automatically be less, and thus if
desirable used for cargo purposes. The greater the amount
of bunkers loaded on board at the commencement of the
voyage the less cargo space or deadweight available, and in
many cases where estimates are drawn up for a voyage this
point would provide an increased earning capacity for the
vessel. Against the increased freight earned, there would
have to be offset such additional expenses, if any, of in-
creased cost of bunker charges.

When a vessel has completed her discharge, the owner,